Illinois, unfortunately, remains one of the top ten states in the nation for home foreclosures. Illinois homeowners facing foreclosure are under intense personal and financial pressures, and this can make them a target for criminals. Con artists offer homeowners threatened by foreclosure a range of questionable schemes and too-good-to-be-true borrowing plans. Don’t fall for a scam. If you’re already in foreclosure trouble, take no chances with your home, your finances, or your future. Instead, if you’re being threatened with a foreclosure, consult at once with an experienced Chicago foreclosure defense lawyer. Sometimes you can keep your home by working with your lender, figuring out ways to reduce your mortgage payments, or qualifying for a government-sponsored foreclosure assistance program.
The federal government oversees two programs to help homeowners facing foreclosure: Home Affordable Foreclosure Alternatives (HAFA) and the Home Affordable Modification Program (HAMP). HAFA helps families transition to affordable housing when they can no longer afford their current mortgage, and in some cases, HAFA provides up to $3,000 toward relocation costs. HAMP helps homeowners arrange lower monthly mortgage payments when lenders are cooperative. An experienced Chicago foreclosure defense lawyer can help you determine if you qualify for either HAFA or HAMP.
While both programs help Illinois homeowners to avoid bankruptcy, in some circumstances bankruptcy may be a homeowner’s best option. Bankruptcy is a legal way to get a fresh start. A good foreclosure defense lawyer can review your situation and options and suggest the solutions that are in your best long-term interests. If you are struggling with an impending home foreclosure anywhere in the Chicago area, don’t wait another minute. You have the right to fight for your home. If you’re threatened with foreclosure, exercise that right, and get legal help at once by contacting an experienced Chicago foreclosure defense lawyer immediately.